Procurement News Notice |
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| PNN | 9224 |
| Work Detail | Qatari Investors Group will replace Al Meera Consumer Goods Company in the Qatar Stock Exchange’s main barometer and Mannai Corporation has been shifted to the consumer goods and services segment against the present classification under industrials. In its semi-annual review of the indices, the bourse also announced that Widam Foods will join the Al Rayan Islamic Index; while Qatar Islamic Insurance and Zad Holding would be removed from the Shariah index list. The revision in the key indices is effective from October 1, a QSE spokesman confirmed. The main barometer will continue to have QNB, Industries Qatar (IQ), Ooredoo, Masraf Al Rayan, Commercial Bank, Qatar Islamic Bank (QIB), Qatar Electricity and Water, Doha Bank, Nakilat, Barwa, Ezdan, Milaha, Qatar Insurance, United Development Company (UDC), Gulf International Services, QIIB, Aamal Company, Mazaya Qatar and Vodafone Qatar. After the addition and deletions, the Al Rayan Islamic Index will have a total of 17 constituents such as IQ, Masraf Al Rayan, Barwa, QIB, UDC, QIIB, Qatari Investors Group, Vodafone Qatar, Aamal Company, Ezdan, Gulf Warehousing, Al Meera, Qatar National Cement, Medicare Group, Mazaya Qatar and Qatar Industrial Manufacturing Company. On Mannai Corporation’s shifting to consumer goods, the bourse spokesman said it was at the request of the company itself. “The financial statements for 2013, 2014 and 2015 were reviewed. Consistency in business unit revenue drivers was reviewed to determine the sector for the company,” the bourse said in a statement. From October 1, the consumer goods and services index will have nine listed companies (against the current eight) and the industrials will have eight (nine). Under the new index practices, a review is carried out twice a year to ensure that the selection and weighting of the constituents continue to reflect the purpose of the index. The maximum weight a single stock can hold within Qatar index is 15%. If during the index review any stock is found to exceed this weight, then the stock’s market value is capped and any excess weight is distributed proportionately among the remaining index constituents. The bourse has seven sectors – banks and financial services, insurance, industrials, realty, telecom, transportation and consumer goods and services in the ‘All Share Index,’ which comprises listed stocks with annual share velocity greater than 1%. Its constituents have not been changed in the new revision. |
| Country | Qatar , Western Asia |
| Industry | Financial Services |
| Entry Date | 15 Oct 2016 |
| Source | http://www.gulf-times.com/story/511166/Qatari-Investors-Group-to-replace-Al-Meera-in-QSE- |
